Industry Leaders Applaud Bybit’s Crisis Response. Despite the catastrophic loss, Bybit’s handling of the crisis has been widely praised.

In the early hours of February 21, 2025, the cryptocurrency world was thrust into chaos. A staggering $1.5 billion in digital assets vanished from Bybit, a Dubai-based cryptocurrency exchange, in what is now the largest crypto heist in history.

Researchers spot the $1.4 billion stolen from Bybit moving through cryptocurrency wallets that were used in earlier heists attributed to North Korea's Lazarus hacking group.